2026 Outlook
Stay ahead in 2026 with forward-looking insight into the macro environment, market trends, and global deal dynamics.
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Macro views
Insights\ \ Global economic outlook \ \ Follow the trends poised to impact the global economy, focusing on growth prospects, inflation forecasts, and policy shifts across major regions.\ \ 20 min 17 min
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Insights\ \ 2026 Geopolitics: manifest destiny \ \ Analysis on the special situations impacting energy markets in 2026.\ \ 6 min
Insights\ \ 2026 Outlook: Macro, monetary policy & rates \ \ Interest rate cycles will evolve in diverse ways across the globe in the year ahead.\ \ 27 min 4 min
Insights\ \ U.S. equity market outlook \ \ In this episode, we’re tackling the year-ahead outlook for the S&P 500.\ \ 8 min 5 min
Insights\ \ Dollar faces mild headwinds as Asia gains momentum \ \ Central banks cutting into non-recessionary environments create opportunities across asset classes. We explore five key themes shaping FX markets in\ ...\ \ \ 4 min
Cross-sector themes
Insights\ \ Who will capitalize on the defense spending surge in 2026? \ \ Defense primes and industrials new to the sector are jostling for a share as government investments climb.\ \ 26 min listen
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Insights\ \ Energy and mining sectors race to feed unprecedented demand \ \ Energy, power, and mining players are reshaping their strategies to meet surging demand amid supply constraints.\ \ 29 min listen
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Insights\ \ How sustainable finance is evolving to reflect new global realities \ \ The sustainable finance market has recalibrated in the face of new global priorities. \ \ 18 min listen
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Insights\ \ 2025 Takeaways and 2026 Outlooks: U.S. Equity Markets Perspectives \ \ RBC’s U.S. Equity Capital Markets bankers provide top takeaways from 2025 in key sector and product categories and share perspectives and predictions moving into 2026.\ \ 9 min read
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Industry outlooks
Insights\ \ The case for real estate in 2026 \ \ From healthcare to industrial properties, real estate subsectors show renewed promise for this year as demographic trends and tight supply support\ ...\ \ \ 5 min read
Insights\ \ Global power demand reshapes infrastructure investment for 2026 \ \ Datacenters drive power demand surge, altering global infrastructure investment opportunities across utilities, midstream and renewables.\ \ 6 min read
Insights\ \ No biotech bubble – but can the sector’s rally persist through 2026? \ \ Can biotech sustain its renewed momentum in 2026, or have the biggest near-term opportunities already been captured? Listen now.\ \ 13 min listen
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Insights\ \ Six tech trends shaping 2026 \ \ Enterprise AI adoption reaches inflection point while cybersecurity remains resilient amid transformation.\ \ 4 min read
Insights\ \ 2026 Global energy outlook: Selective by design \ \ Soft market fundamentals and an unpredictable geopolitical backdrop create a complex landscape for energy producers\ \ 4 min read
Insights\ \ Gold producers rewrite playbook with disciplined strategy \ \ Gold equities face a rosy outlook as producers demonstrate financial discipline amid record high gold prices. \ \ 3 min read
Insights\ \ Five themes reshaping consumer markets in 2026 \ \ RBC's consumer outlook reveals patterns of economic bifurcation, behavioral shifts and tech transformation across major markets next year. \ \ 7 min read
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"Australia’s inflation looked to be fading, but is back to 3%-plus – the supply side of the economy simply isn’t able to keep up with the pick-up on the demand side."
Robert ThompsonMacro Rates Strategist
"We see core inflation rising to as high as 3.5% by the middle of 2026 – way outside everyone's comfort zone."
Frances DonaldRBC Chief Economist
"Lower energy prices will be key to manifesting many of President Trump's signature economic goals: principally, the reindustrialization of the country and winning the baseload battle that underpins AI supremacy."
Helima CroftHead, Global Commodity Strategy & MENA Research
"Our 12-month target for the S&P 500 is 7,750. Key headwinds and tailwinds we're monitoring in 2026 are shifts in the economic backdrop, interest in geographical diversification, and the midterm elections."
Lori CalvasinaHead, U.S. Equity Strategy
"Canada is facing a new reality on three fronts – trade, fiscal policy, and immigration. This new reality translates to lower growth, but not necessarily more rate cuts, and growing chances that hikes start in 2026."
Jason DawHead, North American Rates Strategy
"A pullback in spending by the upper 10% of income earners could be caused by something like a 10% correction in the stock market."
Mike ReidHead, U.S. Economics, RBC
"The German budget is going to expand, and we think that will really drive growth in 2026 both in Germany itself and the euro area."
Peter SchaffrikChief European Macro Strategist
"2026 is likely to be a fairly range-bound environment for Treasuries. It’s going to be more about tactical trading than putting on large directional positions on either duration or curve."
Blake GwinnHead, U.S. Rates Strategy
"Australia’s inflation looked to be fading, but is back to 3%-plus – the supply side of the economy simply isn’t able to keep up with the pick-up on the demand side."
Robert ThompsonMacro Rates Strategist
"We see core inflation rising to as high as 3.5% by the middle of 2026 – way outside everyone's comfort zone."
Frances DonaldRBC Chief Economist
"Lower energy prices will be key to manifesting many of President Trump's signature economic goals: principally, the reindustrialization of the country and winning the baseload battle that underpins AI supremacy."
Helima CroftHead, Global Commodity Strategy & MENA Research
"Our 12-month target for the S&P 500 is 7,750. Key headwinds and tailwinds we're monitoring in 2026 are shifts in the economic backdrop, interest in geographical diversification, and the midterm elections."
Lori CalvasinaHead, U.S. Equity Strategy
"Canada is facing a new reality on three fronts – trade, fiscal policy, and immigration. This new reality translates to lower growth, but not necessarily more rate cuts, and growing chances that hikes start in 2026."
Jason DawHead, North American Rates Strategy
"A pullback in spending by the upper 10% of income earners could be caused by something like a 10% correction in the stock market."
Mike ReidHead, U.S. Economics, RBC
"The German budget is going to expand, and we think that will really drive growth in 2026 both in Germany itself and the euro area."
Peter SchaffrikChief European Macro Strategist
"2026 is likely to be a fairly range-bound environment for Treasuries. It’s going to be more about tactical trading than putting on large directional positions on either duration or curve."
Blake GwinnHead, U.S. Rates Strategy
"Australia’s inflation looked to be fading, but is back to 3%-plus – the supply side of the economy simply isn’t able to keep up with the pick-up on the demand side."
Robert ThompsonMacro Rates Strategist
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We combine cross-border market capabilities with industry specific expertise to finance operations and strategic acquisitions.
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Global Markets
With diverse asset class and currency expertise, we deliver insights and solutions on a range of trading and hedging activities.
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Corporate Banking
For corporate clients, we leverage our global platform to provide lending and financing strategies with seamless execution.
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Innovative ideas and data-driven intelligence from our award-winning research team.
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Supporting clients on energy transition with capital strength, integrated advisory, sustainable finance and cross-platform execution across its full lifecycle.
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RBC Clear™ reimagines Cash Management, leveraging innovative, digital first technology.
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Municipal Finance
We deliver infrastructure financing solutions to municipal issuers across a broad range of sectors.
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